LTC is once again testing its support against BTC for the trend line that it has been bouncing off of since November (red line). So far each time it has come near this trend, a significant breakout has occurred for either Litecoin and/or Bitcoin (although sometimes it has been short-lived).
There is of course the possibility that the trend line finally breaks and LTC loses the race and heads into a downward channel, but I suppose it is soon time once again to see if the fifth time is the charm for that bounce (or seventh time considering how close you consider the bounce), particularly as it is also once again approaching a wedge (against the green line) indicating a likely move one way or another in the next few days.
There is of course the possibility that the trend line finally breaks and LTC loses the race and heads into a downward channel, but I suppose it is soon time once again to see if the fifth time is the charm for that bounce (or seventh time considering how close you consider the bounce), particularly as it is also once again approaching a wedge (against the green line) indicating a likely move one way or another in the next few days.
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